Silver Retraces Entire QE∞ Gains

With Friday afternoon’s sell-off, silver has now retraced it’s entire post QE∞ gains, retesting the gap in the chart on Bernanke’s QE∞ announcement.
While Bernanke, Blythe and friends are likely smugly congratulating themselves at their accomplishment, this is clearly unsustainable over the long term, and silver’s downside momentum and RSI indicators appear to be bottoming. [Read more...]

Depressed Economy, Depressing Future, a Depressed People

SD reader Ashley reminds stackers of the importance of preparing mentally and spiritually for an economic collapse as well preparing with guns, gold, and food:

While the United States and other countries strain to pull themselves out of a troubled economy, “We The People” will be the ones on the business end of the situation left with trying to piece together in chaos things that were once taken for granted in the wake of a currency collapse when the brown stuff hits the fan.  As the dollar plummets, interest rates soar, gas pumps dry up and grocers shelves go empty, individuals all over the world will be scrambling to obtain the necessities required provide for themselves and their families.  Those who prepare themselves with food, clean water, guns and silver will be much better at blocking this economic tackle; however, if you haven’t prepared yourself mentally for what is to come, all of your physical preparation efforts may be in vainThose who have not prepared themselves are in for a world of horror beyond their conscious limits as they find themselves in the midst of martial law and riots, unable to provide for their families and surrounded by depression in every corner of their universe. [Read more...]

Silver COT Report 10/12/12: Commercials DECREASE Net Shorts By 4 Million Ounces!

Submitted by SD Contributor Marshall Swing:

Silver COT Report 10/12/12

Commercial coffers increased a mere 396 longs on the week and covered a minor -440 shorts to end the week with 46.06% of all open interest, a decrease of -0.45% in their share since last week, and now stand as a group at 285,020,000 ounces net short, which is a decrease of just over 4,000,000 net short ounces from the previous week.  [Read more...]

Is Gold a Giffen Good?

Paul Mylchreest has released the October Thunder Road Report, titled Is Gold a Giffen Good?
For those unfamiliar with the term, a Giffen good is one which violates the normal laws of supply and demand, i.e. instead of falling, demand rises as the price increases.
This certainly appears to be the case with not only gold, but particularly with the investment silver market.  Mylchreest takes an excellent in-depth look at gold and it’s supply/demand fundamentals.  Is the HUI gold bug’s index signaling a bottom in the gold price? [Read more...]

The Rich Get Richer Explained

The creative minds that explained quantitative easing to millions with talking bears are back, this time explaining how the rich get richer.
The talking bears aren’t alone this time, but are joined by cartoon figures of Bernanke & Buffett discussing exactly why such a disparity exists between such elite as themselves and the rest of the poor Americans, and WHO EXACTLY BENEFITS FROM QE∞.

MUST WATCH!! [Read more...]

Wynter Benton Group States Will Demonstrate Ability to Move Silver Beginning 10/16

Wynter Benton, the group who claim to be former JPM commodities traders with a grudge against Blythe Masters, and who recently stated that MF Global was pulled to prevent the group from standing for delivery in silver and that silver will trade above $50 by the end of 2012 has posted another statement.
The group claims that beginning Tuesday 10/16, the group will demonstrate their ability to move the price of silver by updating their moves in REAL TIME, and advise silver investors to hold onto their seats! [Read more...]

Economic Debate: Is a Boom or a Collapse Imminent?

Unconventional Finance has released an economic debate featuring former Wall Street analyst and securities trader with Bear Stearns, Gregory Mannarino, vs. a sell-side investment advisor and columnist, Dock David Treece.
Mannarino makes the case for an imminent economic collapse, while to the contrary, the sell-side Treece forecasts a major economic boom in the near future thanks to the Federal Reserve’s QE3. [Read more...]

Caption Contest Friday!

Image: AP/Susan Walsh

[Read more...]

Gold And Silver Capped Until After U.S. Election?

Gold & silver prices may remain contained until after the U.S. election but we expect that soon after the election (we expect Obama to be re-elected), precious metal prices will again surge. Indeed, from November into the early months of 2013, we could see one of the largest upward price movements in gold and silver so far in their bull markets.

U.S. election years tend to see gold underperform vis-à-vis other years and this was seen in 2004 (+4.7%) and 2008 (+5%) when gold saw only marginal gains compared to the 17% annualized dollar returns seen in that decade.  Post election years saw stronger gains – with a 22% in 2005 and a 25% return in 2009.  This is likely due to the governing administration, often in conjunction with the Federal Reserve, doing all it can in order to artificially boost the economy and maintain power. [Read more...]

Ron Paul: Both Romney & Obama Are Owned by Goldman Sachs

The former presidential candidate told CNBC Wednesday that he still won’t back Republican candidate Mitt Romney, and that both Barack Obama and Mitt Romney are the GOLDMAN SACHS CANDIDATES!

Paul told CNBC: The people who run the Federal Reserve make sure their interests are protected.  They have their two guys there, believe me!  Why does Obama not attack Romney for being a Goldman Sachs candidate?   It’s because they both are within the establishment!  Neither one of them have the vaguest idea of what Austrian economics and sound money economics is all about.   They play the game and they represent the one-party system.
Some people say why don’t we get a 3rd part?  I say, why don’t we get a 2nd party!?!  I’ve been in this business for a long time, and there is essentially NO DIFFERENCE FROM ONE ADMINISTRATION TO ANOTHER NO MATTER WHAT THE PLATFORM!!

ABSOLUTE MUST WATCH!! [Read more...]

Metals Hit Again on COMEX Open

Silver & gold have been capped at $34 and $1775 once again on today’s COMEX open, silver was treated to a .50 waterfall decline precisely as it rallied to touch $34 this morning, and gold was sent back to $1765 just as it was preparing to take out $1775 to the upside. [Read more...]

Silver Buffaloes Only 99 Cents Over Spot For Any Qty!!

Doc’s Deal Of The Day

1oz Silver Buffalo’s


Call Now To Order At 614-300-1094 [Read more...]

Freudian Glitch? COMEX Futures Lists Silver at $34,000/oz, Gold at $17,700/oz

Did COMEX futures just reveal a Freudian glitch?  Futures data this morning indicated a value of $34,000/oz for silver, and $17,716/oz for gold!

The misquoted prices reflect a 1:2 price ratio with silver being 2x as valuable as gold.  Was somebody trying to communicate the fact that future gold to silver value ratio will go from 50:1 to 1:2, with silver prices rising 100 times faster than gold’s?

[Read more...]

T-Bonds: A Lighted Stick of Dynamite

Submitted by Ed_B

Interest rates have been artificially manipulated to very low levels and really only have one way to go now and that is up.  When rates rise, bond holders get slapped with principal losses because older lower rate bonds are not worth as much as newer higher rate bonds.  Once rates begin to rise, however, is probably not the best time to head for the bond exits, as there will be a mad stampede of other bond holders seeking escape at that same time and only so many can fit through the exits at one time.

In any case, this is NOT a place where anyone who wants to preserve their wealth should be.  Holding US Treasury paper is the financial equivalent of holding a lighted stick of dynamite without knowing just how long the fuse is or how quickly it is burning.  I would very strongly urge anyone holding US Treasury paper, perhaps in their retirement account, to sell it immediately [Read more...]

Authorities Building CRIMINAL CASES Over JPMorgan CIO Loss

Breaking reports indicate the London Whale, JPM’s ‘Achilles Heel’ and two other members of JPM’s CIO team face imminent CRIMINAL CHARGES over JPM’s CIO derivatives debacle. It wouldn’t surprise us if Mr. Dimon himself convinced authorities to bring charges simply to further extricate himself from the implications of the alleged criminal falsification of JPM’s financial statements (which Mr. Dimon would have signed off on).

Federal authorities are using taped phone conversations to build criminal cases related to the multibillion-dollar trading loss at JPMorgan Chase, focusing on calls in which employees openly discussed how to value the troubled bets in a favorable way. [Read more...]